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GST doubtful for April 2010
30 October, 2009 Ahmedabad :
GST  doubtful for April 2010

The Finance Minister, Mr. Pranab Mukherjee, is seeing suspicion that whether the Goods Service Tax (GST) will be implemented by 2010 or not. States including Haryana, Gujarat, and Tamil Nadu have shown their reluctance as it might eat into their Tax revenues and the Finance Minister is in mood to take up the matter and surely convince them at the GST meeting to be held in November 2009. As the History would repeat, the difficulties faced at the time of implementation of VAT are seen to crop up in the GST regime too.  The Government is proposing now the GST in making out the single Tax Structure, which will absorb Indirect Taxes like Central Excise Duties, Service Tax, and Value Added Tax(VAT).  However, the Central-States revenue sharing formula, and controversies related to that are bound to become big hurdles for implementation of Goods Service Tax in April 2010 and  the deadline approaching fast.

GST

Courtesy: Team STO
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